Israel Englander's $18
billion Millennium Management, which has long had a rivalry with SAC, is
the name that comes up most often as a possible alternative
investment, the industry sources said. The firm also relies on a
group approach where dozens of smaller portfolio teams, rather
than one or two main managers, buy and sell securities quickly,
often thousands of them.

Balyasny Asset Management, Visium Asset
Management and Kenneth Griffin's Citadel, which
all feature multi-manager trading teams, have also been named
frequently as candidates for some of the estimated $3 billion to
$4 billion expected to leave SAC, said industry sources.

Several people mentioned Hutchin Hill, a $1.1 billion firm
run by former SAC Capital trader Neil Chriss. The firm
employs a strategy similar to Mr. Cohen's and is taking money
from new investors.

Reuters reports that it will take months for the money to be
returned to investors, so it may be too soon to predict which
hedge funds will profit from SAC's woes.